With Black Friday only a few days away and projections for the holiday shopping season bleak, it’s not surprising that Sony is making a price cut move on its PlayStation 3 video game console to lure cash-strapped shoppers.
Here’s a fun one from my colleague Emily Kaiser, who’s reporting from Capitol Hill today (she’s monitoring the hearing on TV. Turns out we have someone else there. That’s what you get when you write about DC from New York), specifically from the Financial Services Committee in the House of Representatives:
When the markets go south and most people are losing, it’s safe to say that there are some others who are winning, or at least spotting opportunities. You could say that about the Financial Times and its chief executive, John Ridding, who is finding a business angle on what they say about the editor’s decision-making process: “If it bleeds, it leads.”The London-based FT is building up a pretty good head of steam, particularly in the United States, as the effects of the financial crisis ooze into yet more corners of Wall Street and Main Street (sick of the “streets” cliche yet?). Here’s evidence, some of which Ridding gave me when we had breakfast at Michael’s last week:
Talk about naked shorting! Playboy magazine is getting into the financial crisis with a planned photo spread in its February 2009 issue and on Playboy.com called “Women of Wall Street.” With the potential for big job losses and a number of careers in the balance, the magazine figures that there’s no better time to tap into a relevant news topic, just like it did with “Women of WorldCom” and “Women of Enron” earlier in the decade.
The financial crisis has produced no shortage of news media references to the Great Depression. Reuters News has a slideshow this week, for example, called “Ghosts of 1929.” All the talk of Dustbowl Okies and Folkies has spurred its share of stories comparing that era to 2008, including this Reuters story by yours truly.
The Wall Street Journal recently stopped carrying the Breakingviews business analysis column in favor of its expanded in-house Heard on the Street column, but Breakingviews still managed to crash the party in Wednesday’s paper. In true merry-prankster mode, the Breakingviews ad urges readers of Heard on the Street to think about what they’re missing and how to get a new fix. What the ad doesn’t mention is that The New York Times picked up Breakingviews for its business section just after the WSJ dropped it. Such a move would be a real paper cut.
Like most intellectuals and sophisticates, I read the cartoons in The New Yorker before going on to all those articles filled with big words and umlauts. In doing that in the October 6 edition, I noticed that every one of them pertains to the financial crisis.